Stimulus money cannot be swapped for cash

03/12/2009 | NYTimes.com

Several Los Angeles County cities have been blocked from selling their portion of federal stimulus funds at a discount so they can choose where to spend the money. "We have already put governors, transit agencies and large metropolitan planning associations on notice that we intend to aggressively oversee that the funding is utilized as Congress intended," said Mary A. Kerr, a spokeswoman for the House Committee on Transportation and Infrastructure. The Los Angeles County Metropolitan Transit Authority had encouraged smaller cities or cities that did not have projects ready to swap out the money with other cities.

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